Well, one sector which has been under my radar is Metals. The news of Chinese slowing down is not good news for metals. One can expect more selling pressure in this sector.
The BSE MEtal Index currently has today broken the crucial 17000 level - it was the biggest loser in sector indices.
Expect a medium to long term down target 13500 - 14000. Upmoves in stocks in this sector may be used to exit longs by investors / create short sell by traders.
Some stocks like Tisco/ SESA Goa were already discussed for short sell in ITG meeting of last couple of weeks. I presume traders may now look for the midcap metal stocks which are still at higher levels !
Happy trading!
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd .
www.investogyan.com
5 comments:
sir what are the retrancement levela at 61% for sesagoa ???
Rajiv, just like NatGas, Crude Oil gave a breakout above the 3845 level and now it hit the stop loss of 3720 as well. What's going on? How is Crude Oil looking now?
sir you are providing nse stock tips for indian share market trader?
Hello VM
We have a 'Investogyan Traders Group' meeting every week Tuesday in which we identify various stocks for trading - We are going to start a subscription service of these analysed stocks in next two weeks.
Will also update on this blog for various readers.
Regds
RDK
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